兹维博迪金融学第二版试题库1TB1Word文档下载推荐.docx
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兹维博迪金融学第二版试题库1TB1Word文档下载推荐.docx
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(b)soleproprietorship
(c)partnership
(d)household
4.________isanythingthathaseconomicvalue.
(a)Apartnership
(b)Anasset
(c)Abalancesheet
(d)Anincomestatement
5.Ahousehold’swealthornetworthismeasuredbythevalueofits________minusits________.
(a)liabilities;
assets
(b)assets;
liabilities
(c)stocks;
bonds
(d)bonds;
6.Thebranchoffinancedealingwithfinancialdecisionsoffirmsiscalled________or________.
(a)investments;
internationalfinance
(b)markets;
institutions
(c)businessfinance;
(d)businessfinance;
corporatefinance
(d)
7.Bondspromise________cashpayments,whilestockspaythe________valueleftoverafterallotherclaimantshavebeenpaid.
(a)variable;
residual
(b)residual;
fixed
(c)fixed;
(d)fixed;
variable
(c)
8.Theday-to-dayfinancialaffairsofthefirmareusuallyreferredtoas________.
(a)workingcapitalmanagement
(b)capitalstructure
(c)capitalbudgeting
(d)strategicplanning
9.Adisadvantageofthesoleproprietorshipisthefactthatthesoleproprietorhas________.
(a)limitedliabilityforthedebtsofthefirm
(b)unlimitedliabilityforthedebtsofthefirm
(c)expensivecoststoestablishthefirm
(d)limitedauthorityovertheday-to-daybusinessdecisionsofthefirm
10.IntheU.S.corporationswithconcentratedownershiparecalled________andcorporationswithbroadlydispersedownershiparecalled________.
(a)privatecorporations;
publiccorporations
(b)publiccorporations;
privatecorporations
(c)publiccorporations;
monopolies
(d)privatecorporations;
stateownedcorporations
11.Billyownsahouseworth$350,000andhasa$55,000bankaccount.Billyowes$270,000tothebankonahomemortgageloanandhasa$12,000creditcarddebtoutstanding.CalculateBilly’snetworth.
(a)$135,000
(b)$123,000
(c)$497,000
(d)$37,000
12.Marloweownsahouseworth$150,000,acarworth$25,000andhasan$18,000bankaccount.Marloweowes$135,000tothebankonahomemortgageloan,$18,000onthecarloanandhasan$18,000creditcarddebtoutstanding.CalculateMarlowe’snetworth.
(a)$58,000
(c)$22,000
13.Anadvantageofthecorporateformofownershipis________.
(a)noliability
(b)unlimitedliability
(c)limitedliability
(d)CEOliability
14.Inthecorporateform,theseparatedstructurecreatesthepotentialfor________betweenownersandmanagers.
(a)aconflictofinterest
(b)increasedtransactionalcosts
(c)stabilityinrelations
(d)noneoftheabove
15.Allofthefollowingarereasonsforhavingaseparationofmanagementandownershipofthefirmexcept:
(a)the“goingconcern”effectfavorstheseparatedstructure
(b)professionalmanagersmaybefoundwhopossessasuperiorabilitytorunthebusiness
(c)itpreventsthepossibilityofaconflictofinterestbetweentheownersandmanagement
(d)itallowsforsavingsinthecostofinformationgathering
16.________involvestheevaluationofcostsandbenefitsspreadoutovertime,anditislargelyafinancialdecision-makingprocess.
(a)Stockvaluation
(b)Bondvaluation
(c)Inventorycosting
(d)Strategicplanning
17.Shareholderwealthmaximizationdependsonallofthefollowingexcept:
(a)productiontechnology
(b)marketinterestrates
(c)riskaversion
(d)marketriskpremiums
18.Aproblemwithusingtheprofitmaximizationcriterionis________.
(a)decidingwhichperiod’sprofitistobemaximized
(b)thedefinitionof“maximizeprofits”isambiguous
(c)thefailuretoconsiderrisk
(d)alloftheabove
(d)
19.Theexistenceofawellfunctioningstockmarketfacilitatestheefficientseparationoftheownershipandmanagementoffirms,sincestockpricescanbesubstitutedforexternalinformationabout________.
(a)thefirm’sproductiontechnology
(b)thewealth,preferences,andotherinvestmentopportunitiesoftheowners
(c)thehistoriccostsofthefirm’sinfrastructure
(d)thefirm’sabilitytomeetitsprojectedgoals
20.Oneplacetolookforastatementofthegoalsofacorporation’stopmanagersisthe________.
(a)balancesheet
(b)incomestatement
(c)annualreport
(d)bankruptcyfiling
21.Intheabsenceofastockmarket,managerswouldrequireinformationthatis________toobtain.
(a)costlyifnotimpossible
(b)costless
(c)readilyavailable
(d)time-consumingbutinexpensive
22.Management’staskismademucheasierwhenitcanobservethe________ofitsownandotherfirms’shares.
(a)bookprices
(b)marketprices
(c)historicalprices
(d)securityprices
23.________areentitledtoashareofanyofthedistributionsfromthecorporationsuchascashdividends.
(a)Soleproprietors
(b)Generalpartners
(c)Professionalmanagers
(d)Shareholders
24.________isthefounderofmodernportfoliotheory.
(a)HarryMarkowitz
(b)MertonMiller
(c)WilliamSharpe
(d)BillGates
25.InGermany,publiccorporationsareidentifiableby________afterthecompanyname,whereasprivatecompaniesaredenotedby________.
(a)PLC,Inc.
(b)GmbH,AG
(c)AG,GmbH
(d)SpA,GmbH
26.IntheUnitedKingdom,publiccorporationsareidentifiableby________afterthecompanyname,whereasprivatecompaniesaredenotedby________.
(a)Inc,PLC
(b)LTD,PLC
(d)PLC,LTD
27.Shareholderselect________whointurnselect________torunthebusiness.
(a)aboardofdirectors;
atreasurer
(b)aboardofdirectors;
managers
(c)managers;
aboardofdirectors
(d)aboardofdirectors;
accountants
28.Inacompetitivestockmarket,________offer(s)anotherimportantmechanismforaligningtheincentivesofmanagerswiththoseofshareholders.
(a)takeovers
(b)increasedtaxes
(c)liquidation
(d)increasedliability
29.Ifaraiderisinterestedinmakingaprofitthroughthetakeoverofaprospectivefirm,theonlyexpensesthatneedbeincurredare________.
(a)thecostofidentifyingamismanagedfirm
(b)thecostofacquiringthefirm’sshares
(c)physicalcapital
(d)both(a)and(b)
30.Thecostofidentifyingamismanagedfirmcanbelowiftheraideriswhichofthefollowing:
(a)asupplier
(b)acustomer
(c)acompetitor
(d)alloftheabove
31.Takeovermechanismscanmosteffectivelybereducedby________.
(a)directivesfromtheboardofdirectors
(b)mediaintervention
(c)governmentpolicies
(d)publicdisapproval
32.Thechieffinancialofficer(CFO)ofacorporationnormallyreportstothe________ofthecompany.
(a)controller
(b)treasurer
(c)chiefexecutiveofficer
(d)chairmanoftheboardofdirectors
33.Allofthefollowingdepartmentstypicallyreporttothechieffinancialofficer(CFO)except:
(a)marketing
(b)financialplanning
(c)treasury
(d)control
34.Thetreasurer’sjobincludesmanagingallofthefollowingexcept:
(a)thefirm’sexposuretocurrencyandinterestraterisks
(b)thetaxdepartment
(c)relationswiththeexternalinvestmentcommunity
(d)theanalysisofproposedmergersandacquisitions
35.Theactivitiesofthevicepresidentforfinancialplanningincludeallofthefollowingexcept:
(a)analyzingproposedmergers
(b)analyzingproposedspin-offs
(c)preparinginternalreportscomparingplannedandactualcosts
(d)analyzingmajorcapitalexpenditures
36.Whichofthefollowingstatementsismostcorrect?
(a)Theshareholdersofacorporationelectmanagerswhointurnselectaboardofdirectorstorunthebusiness.
(b)Partnershipsdonotpaycorporatetax.
(c)Adisadvantageofthecorporationisunlimitedliability.
(d)Thegovernmentispowerlesstodiscouragecorporatetakeovers.
Answer:
37.
Foratypicalfirm,whichofthefollowingstatementsismostcorrect?
(a)TheCFOhasthreedepartmentsreportingtohim:
financialplanning,treasuryandcontrol.
(b)Thetreasureroverseestheaccountingandauditingactivitiesofthefirm.
(c)Thecontrollerhasresponsibilityformanagingthefinancingactivitiesofthefirmandforworkingcapitalmanagement.
(d)TheCEOisaseniorvicepresidentwithresponsibilityforallthefinancialfunctionsinthefirm.
38.Whichofthefollowingarefinancialdecisionsafirmhastomake?
(a)financingdecisions
(b)capitalbudgetingdecisions
(c)workingcapitaldecisions
39.Thecontroller’sjobincludesresponsibilityfor________.
(a)relationswiththeexternalinvestmentcommunity
(b)preparationoffinancialstatementsforusebyshareholders,creditorsandregulatoryauthorities
(c)analysisofproposedmergers,acquisitionsandspin-offs
40.T
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